Alphabet Inc. (NASDAQ:GOOGL) Announces Quarterly Dividend of $0.20

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.20 per share by the information services provider on Monday, December 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th.

Alphabet has a payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alphabet to earn $8.65 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.2%.

Alphabet Stock Performance

Shares of Alphabet stock traded down $3.35 during trading hours on Thursday, reaching $171.11. The company had a trading volume of 44,707,297 shares, compared to its average volume of 27,224,047. Alphabet has a one year low of $122.68 and a one year high of $191.75. The business has a fifty day simple moving average of $162.32 and a 200 day simple moving average of $168.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.11 trillion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, analysts anticipate that Alphabet will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company's stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company's stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last 90 days. Company insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an "outperform" rating and a $240.00 price target for the company. UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler reissued an "overweight" rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday. Finally, Wedbush reissued an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.51.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.